this is true but sooo hard for lay people to understand. they think the internet is magic and therefore Bitcoin is just magic internet money.
it's like how people didnt understand rain before it was studied from a physical science perspective. They didn't know why it falls, when it falls, what it is, where it comes from. they just know it falls from the sky and waters the crops. They think they can manipulate the magic of rain with dances and rituals.
utxo the webmaster ๐งโ๐ป
Bitcoin is backed by the same thing as gold: the physical laws of the universe, not the laws of men
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I find that people go through phases like this
1. Learn about Bitcoin and the idea of digital currencies, crytpo-finance, etc.
2. Think Bitcoin is too "old school" and the other coins are technological improvements so they must be better.
3. Believe they're hot shit for shilling the other coins.
4. ???
5. Finally understand that Bitcoin is the only answer.
usually step 4 involves losing a lot of money on rug pulls.
I am so thankful that I didn't get hit by a rug pull. I know others that have lost a lot on them.
I'm glad you didn't get hit with a rug pulls either.
I've heard of people losing their entire retirement or savings. it is devastating.